News
Insurers’ assets hit N3.3trn as premium income rises by 51%

By Francesca Hangeior.
Despite the harsh operating business environment in the economy, insurance companies were able to grow their total assets by 36.9 per cent year-on-year, YoY, to N3.3 trillion in Q1’24 from N2.4 trillion in the corresponding period of Q1’23.
The National Insurance Commission, NAICOM, disclosed this in its first quarter Q1’24 report of the insurance sector.
According to the report, total assets of non-life business stood at N1.9 trillion while total assets of life business stood at N1.4 trillion.
According to NAICOM, the insurance industry sustained positive performance and market deepening capacity indicating its ability to adapt and grow despite the prevailing macroeconomic challenges.
Further analysis of the report show that industry gross premium income increased by 51 per cent to N470.7 billion in Q1’24 from N311.5 billion recorded in Q1’23.
According to NAICOM, the impressive increase is attributable to the regulatory measures and market dynamics.
Further analysis of the report show that the non-life segment led the market as it generated premium income of N326.9 billion indicating 69.5 per cent contribution of the total premium pool while the life segment generated N144.9 billion representing 30.5 per cent of the total premium during the period.
On claims payment, claims paid increased by 71.8 per cent to N149.1 billion in Q1’24 from N86.8 billion recorded in Q1’23.
According to NAICOM, the growth in claims payment is a reflection of increased public enlightenment and growing confidence of stakeholders concerning claims settlement.
“This is a win-win situation for insurers, policyholders and society at large as stakeholder confidence remains a major determinant of market deepening and sustainability in the long run.”
News
Watch Saturday episode of Your Family Lawyer on ‘How can I get a divorce under Islamic marriage

Seasoned lawyer and progenitor of Your Family Lawyer, Chuma Chinye tackled how you can get a divorce under Islamic marriage.
Using vivid examples and solutions on how you can maintain a cool head when faced on how to get your rights under Islamic marriage.
Watch podcast below:
News
BREAKING: Jubilation As PDP Wins All 30 LGs In Osun State(See winners)

By Kayode Sanni-Arewa
The Osun State Independent Electoral Commission, OSSIEC, has announced that the Peoples Democratic Party, PDP, won all the local government and councillorship positions in the just concluded local government elections in the state.
The Chairman of the Commission, Hashim Abioye, made this announcement via a Facebook Live broadcast on Saturday evening.
Abioye stated that PDP candidates secured all the councillorship seats in all 332 wards in the state, as well as the chairmanship elections in all 30 local government council areas.
The names of the PDP chairmanship candidates and their respective local government council areas:
Babalola Wasiu Kayode – Boripe
Okunade Oluwafemi Adesanya – Egbedore
Adeyenuwo Rotimi John – Ife Central
Agboola Francis Olajire – Obokun
Azeez Lateef Adeniran – Isokan
Aina Abayomi Adesina – Boluwaduro
Sodiq Samuel Oluwapelumi – Ola Oluwa
Ajibade Oluwatoyin S. – Irepodun
Adebanjo Oladiti Tunmininu – Ilesa West
Ibironke Alade Adegboye – Atakumosa East
Aroke Muyiwa Aderemi – Ife South
Kolade Obafemi Kolawole – Olorunda
Moshood Adekunle Kabiru – Iwo
Awotunde Abiodun Sarafadeen – Ifelodun
Akande Taiwo Adekunle – Osogbo
Dada Feyisayo Ajibola – Atakumosa West
Amodu Taiwo – Ede North
Atolagbe Kayode Olayinka – Ifedayo
Akande Michael O. – Ife North
Adeyekun Taiwo Adebayo – Oriade
Adeniran Adenike Felicia – Ayedaade
Afolabi Oyekola Lukman – Ede South
Odunyemi Haruna Bukola – Ife East
Jooda Ambali Babajide – Irewole
Adewale Adeyinka Oluwaseun – Odo Otin
Ogunbiyi Solomon Akinyemi – Ayedire
Raimi Adenike Nafisat – Ejigbo
Adebisi Jayeola Nasir – Ila
Ilesanmi Taiwo Sunday – Ilesa East
Alade Aderemi Fatai – Orolu
News
DSS arrests three for assaulting operatives during LSHA crisis

By Kayode Sanni-Arewa
The Department of State Services (DSS) has arrested three persons linked to the alleged assault on its officers during the crisis that rocked the Lagos State House of Assembly, following the removal Mudashiru Obasa, as Speaker
Apparently sensing danger, some lawmakers had mobilized their supporters to the Assembly Complex, but these supporters allegedly attacked some DSS officers who were invited by the Assembly leadership to secure the facility. Security sources revealed that “after extensive analysis of CCTV footage, we were able to clearly identify three of the suspects”.
“The suspects, Ibrahim Olanrewaju Abdulkareem, a photographer and two others attached to the Assembly’s Seargent at Arms, Adetu Adekunle Samsudeen and Adetola Oluwatosin Fatimoh, a lady, were consequently tracked and arrested during the week in different parts of Lagos,” The trio have since confessed to the crime and will soon be charged to court, the source said.
It would be recalled that the Lagos Assembly had in a leaked memo dated 14th February, 2025 and addressed to the DSS Director in the State, and Heads of other Security Agencies in Lagos State, told the Security Agencies in Lagos that, there was credible information to the effect that, Obasa had planned to forcefully reinstate himself today, February 18, 2025.
Accordingly, the Assembly management, held the view that, the development posed “a potential security threat” to it and its members.
-
News16 hours ago
Book launch: Abacha’s daughter, Gumsu derides Babangida
-
News16 hours ago
Social media in awe as former RCCG pastor ties nuptials with male lover
-
News16 hours ago
Justice Delayed: The Imperative for Accountability in the Wake of Ibrahim Babangida’s Autobiography
-
News15 hours ago
SAD: Finally, Police recover remains of soldier k!lled over unpaid N20m ransom
-
News24 hours ago
IBB’s attempt to alter history must be dismissed – Odumakin
-
News15 hours ago
Gov Adeleke Votes As Osun’s LG Election Begins
-
News23 hours ago
Suspended Ogun monarch meet bail conditions after two weeks in jail
-
News23 hours ago
FG terminates Visa-on-Arrival policy, says Nigeria not a haven for criminals